ArcelorMittal On Track To Meet 2011 Iron Ore, Coking Coal Targets
27 Luglio 2011 - 11:19AM
Dow Jones News
Steel titan ArcelorMittal remains on track to meet its annual
iron ore and coking coal targets, its chief financial officer said
Wednesday.
"We are doing better in mining," Aditya Mittal told journalists
in a conference call. Both iron ore and coking coal are key
ingredients used in steelmaking.
Second-quarter iron ore from its own production rose 2.4% on
year to 13.1 million metric tons, while coking coal from its own
production rose 23% on year to 2.1 million tons.
Mittal confirmed that the company still plans to increase iron
ore from its own production by 10% this year and coking coal from
its own production by 20% despite suffering some production
setbacks in the first half. In 2010, ArcelorMittal produced 48.9
million tons of iron ore and 7 million tons of coking coal from its
own production.
Mittal said on-year output growth will be faster in the second
half of this year in order to catch up following a slight
production setback in the first half of this year.
Production fell on-year in the first quarter due to a fire at
one ArcelorMittal's concentrators in Canada, maintenance at a
sinter plant in Ukraine, and weather disruptions in Brazil.
-By Alex MacDonald, Dow Jones Newswires; +44 (0)20 7842 9328;
alex.macdonald@dowjones.com
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